American Savings Bank awarded $190,000 to 18 schools from across the state, including two from the Big Island, as part of its 2015 Bank for Education KeikiCo Contest.
American Savings Bank awarded $190,000 to 18 schools from across the state, including two from the Big Island, as part of its 2015 Bank for Education KeikiCo Contest.
The inaugural business plan competition was open to invited K-12 schools. Waiakea Elementary School took first place in the Elementary Division and received $25,000 and Kua O Ka La Public Charter School earned the County Prize-Hawaii Division and $10,000.
The KeikiCo Contest provides an opportunity for Hawaii’s third- through 12th-grade students to earn prize money for their school by turning their ideas into business plans.
Each participating team of two to four students came up with an innovative product or service and developed a business plan, accompanied by a video pitch.
Each participating team was eligible for a chance to win cash prizes in one of five categories.
“We know Hawaii’s keiki are full of great ideas. We developed KeikiCo with the goal of nurturing Hawaii’s next generation of entrepreneurs,” said Rich Wacker, American Savings Bank president and CEO. “Innovation is important to the future of our state, and the work of these talented students reflects the creativity and imagination thriving in Hawaii’s schools.”
Participating schools competed in three divisions, grades 3-5, 6-8 and 9-12. Each team had an assigned teacher, parent or adult adviser as their point of contact and mentor. ASB teammates across the state worked with schools in their areas to provide guidance and support. ASB also partnered with Junior Achievement Hawaii to provide entrepreneurial training to interested schools.
Each business plan was judged based on five categories: innovation, feasibility, relevance, potential demand and comprehensiveness. Videos also were judged on clarity, creativity and persuasiveness.
Participating Bank for Education schools have the opportunity to earn support for the programs and projects they need.
Schools are eligible for volunteer service projects, grants during noncontest years as well as scholarships and internship opportunities for students.
Since its inception in 2010, ASB has contributed more than $1 million to public and private schools across the state through the Bank for Education program.